Yahoo Finance Looking for Consumer Discretionary Stocks? The Zacks Rank Can Help You Find Winners
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Should You Buy #1 (Strong Buy)-Ranked Skechers (SKX) for Your Portfolio?
Skechers was upgraded to the Zacks Rank #1 list on May 1, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Founded in 1992 and headquartered in Manhattan Beach, California, Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children in the United States and overseas under the SKECHERS name, as well as under several uniquely branded names.
For fiscal 2024, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.27 to $4.08 per share. SKX boasts an average earnings surprise of 34.1%.
Earnings are expected to grow 16.9% for the current fiscal year, while revenue is projected to increase 10.6%.
SKX has been moving higher over the past four weeks as well, up 6.3% compared to the S&P 500's gain of 2.7%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Skechers could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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